Which of the following risks may take place if the accounting staff’s training is insufficient and complex transactions exist. Audit risk Detection risk Control risk Inherent risk Incorrect This is incorrect. This was covered؟
إجابة الطالب المختصرة من خلال موقع بوابة الإجابات هي
Control risk
The correct answer is **Control risk** and **Detection risk**. Here's why:
* **Control Risk:** This is the risk that a material misstatement that could occur in an assertion about an account or disclosure will not be prevented, or detected and corrected, on a timely basis by the entity's internal control. If the accounting staff lacks sufficient training, especially with complex transactions, they are more likely to make errors that internal controls won't catch. Thus, control risk increases.
* **Detection Risk:** This is the risk that the procedures performed by the auditor to reduce audit risk to an acceptably low level will not detect a misstatement that exists and that could be material, either individually or when aggregated with other misstatements. When the accounting staff makes errors due to insufficient training (leading to increased control risk), this increases the likelihood of material misstatements in the financial statements. As a result, auditors may find it harder to detect those misstatements, increasing detection risk.
* **Audit Risk:** Audit risk is the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated. Audit risk is a function of inherent risk, control risk, and detection risk. While insufficient training and complex transactions could increase audit risk, it's more directly tied to the impact on control and detection risk.
* **Inherent Risk:** This is the susceptibility of an assertion about a class of transactions, account balance, or disclosure to a misstatement that could be material, either individually or when aggregated with other misstatements, before consideration of any related controls. While complex transactions *could* inherently be riskier, the staff's training (or lack thereof) doesn't directly *cause* inherent risk. Inherent risk exists independently of the company's internal controls and accounting staff's competence.
**In Summary:**
Insufficient training among accounting staff, especially dealing with complex transactions, weakens internal controls (increased control risk), which then makes it harder for auditors to detect errors (increased detection risk). This situation will also likely increase audit risk because of the increased risk of misstatement of the financial statements.
اذا كان لديك إجابة افضل او هناك خطأ في الإجابة علي سؤال Which of the following risks may take place if the accounting staff’s training is insufficient and complex transactions exist. Audit risk Detection risk Control risk Inherent risk Incorrect This is incorrect. This was covered اترك تعليق فورآ.
